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Ethereum Faces Resistance Around $3,500

Written By: ChartChamp

July 17, 2024

Ethereum had a bullish breakout above the red resistance line. The price is currently trading near a key resistance zone between $3,500 and $3,650. We could see a rally ahead of the Ethereum ETF listing on Tuesday July 23. I have $4,000 as a key target to monitor on the way up.

Ethereum Continues to Retest the Falling Wedge

The ETH/BTC chart measures the strength of Ethereum relative to Bitcoin. Ethereum has formed a bullish breakout above the upper range of this falling wedge pattern, and has been building support near the top of the pattern. ETH could start to show some strength as we approach the July 23 ETF listing date.

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